Ameriprise 2008 Annual Report Download - page 6
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4 Ameriprise Financial 2008 Annual Report
lives so we can help them plan for the long term.
This approach has proven resilient and valuable:
Today we are the leading financial planning firm
in the U.S.
Comprehensive financial planning requires a broad
and diverse set of products to help meet wide-ranging
client needs. Our advisors have extensive product
choice, from cash management and lending to invest-
ments, insurance and annuities. In 2008, many of
our clients sought the safety of cash or other liquid
or fixed-interest-rate products. The resulting shift
from wrap accounts, variable annuities and mutual
funds to FDIC-insured banking products, certificates
and fixed annuities impacted our asset flows and
profitability. Importantly, our product diversity allowed
us to retain client assets—and maintain a leading
share of wallet.
We recognize that the investment landscape is ever-
changing, so innovation and flexibility are critical to our
ongoing ability to serve clients. We have transformed
our product platform over the past several years,
highlighted by the launch of advice-embedded solutions
that provide individual investors with access to sophis-
ticated investing techniques within appropriate risk
parameters. These products have been well received;
we now hold $30 billion in assets in advice-embedded
solutions, up from $7 billion just three years ago.
In addition, we believe insurance can play a central
role in comprehensive planning and provide an
additional measure of security in uncertain times.
In 2008, our life insurance in force increased by
Advice & Wealth Management
• Financial planning leader
• Fourth-largest advisor force in U.S.
• Largest mutual fund advisory
program in assets
• Capabilities: nancial planning,
wealth management, brokerage,
banking and trust services
Asset Management
• $265 billion in total managed assets
• U.S./international balance
• Retail capabilities: mutual funds,
separate accounts and advice-
embedded solutions
• Institutional capabilities: separate
accounts, subadvisory and alterna-
tive investments